Cardano’s price has been facing pressure after whales sold a large amount of tokens. The cryptocurrency is now in a battle to maintain key support levels while showing some positive on-chain metrics.
The last seven days have been marked by strategic selling from whales. About 30 million ADA were offloaded during this period after the price hit a local peak of $1.01.
Whales began selling at around $0.92 as the price failed to return to the $1 mark, suggesting bearish sentiment was taking hold. At that time, whale balance stood at 5.57 billion ADA.
Despite this selling pressure, ADA has managed a slight recovery of about 2.50% in the last 24 hours. Trading volume also jumped by 69%, reaching $1.45 billion for the day.
The cryptocurrency is currently trading near $0.81, trying to hold the important $0.80 support zone. This level has become a critical battleground for buyers and sellers.
The price charts show ADA attempting to stay above the $0.80 zone. A hold above this level might indicate that Cardano is in a cooling phase since its August 14th high.
The long-term uptrend remains intact unless the higher low at $0.70 is broken. However, the EMA cross indicator now signals bearish momentum, suggesting a slide toward $0.70 is possible.
If the $0.70 support fails, the bullish structure would break, potentially opening the way to the $0.57-$0.51 range. This area marked the double bottom of the previous bear market.
The market structure shows significant shorts positioned right above recent price action. About $17 million worth of ADA shorts are clustered between $0.82 and $0.85.
This short positioning could lead to two outcomes: a short squeeze triggering a move back to $1, or fuel for further selling that pushes the price below $0.80.
In contrast to price struggles, Cardano’s network activity has been impressive. The blockchain just posted one of its strongest weeks in 2025, recording over $5.3 billion in on-chain volume within seven days.
This sudden rise in activity highlights rapidly expanding network participation, with transaction flows and liquidity both trending higher.
Alongside this volume surge, active addresses and open interest have also climbed, reflecting stronger user engagement across the Cardano ecosystem.
Such spikes in volume often precede larger market moves, as they demonstrate renewed interest from both retail and institutional participants.
Technically, Cardano has maintained a constructive trend by trading above major moving averages, including the EMA55, EMA89, and the MA200, for seven straight weeks.
30 million Cardano $ADA sold by whales in the past week! pic.twitter.com/HkhkZyG019
— Ali (@ali_charts) September 1, 2025
The price continues to move within a broad ascending channel, with support from the MA200 offering a strong base for potential rebounds.
Some technical analysts point to a bullish divergence on the MACD, with momentum indicators trending upward. This divergence signals weakening bearish strength and could support a recovery narrative.
If ADA maintains support above $0.68 and pushes through near-term resistance around $0.85, it could open the path for a stronger move back toward the $1.00 zone.
The current price action resembles a textbook breakout followed by a retest of prior resistance, now potentially flipping to support. Holding above the $0.78 to $0.80 zone will be key for bulls.
Charles Hoskinson, Cardano’s founder, has maintained that his goal is to ultimately win against Ethereum. Despite his optimistic rhetoric, recent whale movements have gone in the opposite direction.
For now, the focus remains on whether ADA can defend its critical support zone around $0.80, or if further downside will materialize in the coming days.
The post Cardano (ADA) Price: Whales Sell 30 Million Coins as Token Trades at $0.81 appeared first on Blockonomi.
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